Desktop Valuation

[zdfenton]

It's likely the intended use is to make a decision on whether or not to proceed with a loan application.

And what's wrong with that? (I'm not trying to put words in your mouth, your statement was neutral)

As long as the apprasier is getting paid there's no harm in the lender figuring out what the ballpark is.

It's the appraisers that do free "comp checks" that are doing a disservice

 

[RSW]

And what's wrong with that? (I'm not trying to put words in your mouth, your statement was neutral)

As long as the apprasier is getting paid there's no harm in the lender figuring out what the ballpark is.

It's the appraisers that do free "comp checks" that are doing a disservice

I see no problem with the first appraisal as long as it is not contingent on receiving an additional order if the deal works.

 

[Pittsburgh Pete]

I see no problem with the first appraisal as long as it is not contingent on receiving an additional order if the deal works.

And I'm sure the client is aware that the "full" appraisal and the "desktop" may yield totally different values--no guarantee that #2 will be either higher, lower, or the same as #1. It's a scope thing.

 

[CANative]

And what's wrong with that? (I'm not trying to put words in your mouth, your statement was neutral)

As long as the apprasier is getting paid there's no harm in the lender figuring out what the ballpark is.

It's the appraisers that do free "comp checks" that are doing a disservice

There's nothing wrong with that. That was my point.

 

[Lee Lansford]

If you have wintotal it's form dvl3. Market as in neighborhood. 3 comps with an opinion of value. Lots of extraordinary assumptions on this. All information is pulled off the tax card. No inspection required. The order form indicated "Market Value". The second order came across as a refinance.

An the Intended Use of this appraisal is...?

 

[quality control]

An the Intended Use of this appraisal is...?

See previous page.

 

[Mike Kennedy]

I have received a couple of orders for Desktop Valuations. This is then followed by a full order for the same property. Should I decline this? Are the lenders going around the whole "no precomp" law?

Totally Separate Orders with totally different Intended Uses? - yeah right

Different SOW - yeah right.

Second "full" order is not contingent upon the results of the first order?

YEAH RIGHT, PERHAPS ONLY IN THE LAND OF OZ.

DISCOUNT ANYONE?

ILLUSTRATIVE EXAMPLE

http://appraisersforum.com/showpost.php?p=2084741&postcount=18